Global markets plummet as China retaliates with tariffs, sparking recession fears; S&P 500 suffers worst drop since 2020.

Global stock markets witnessed a sharp decline following China's retaliation against the US through imposing substantial new tariffs, sparking concerns of a worldwid

Global stock markets witnessed a sharp decline following China's retaliation against the US through imposing substantial new tariffs, sparking concerns of a worldwide economic downturn. The S&P 500 recorded its most significant drop since 2020, alongside notable decreases in the Dow and Nasdaq. American companies heavily reliant on the Chinese market suffered substantial losses as a result of the escalating trade tensions.